& Gas Projects, Namibia
Combined direct and indirect holding of 11%
Polo’s strategic interest in the private and independent
oil and gas company, Regalis Petroleum, offers good upside
potential as Regalis works to acquire and develop key oil
concessions in Chad and other countries across sub-Saharan
Chad - 3 exploration blocks in Chad, proximate to Glencore’s
producing Managara field and Grim discovery. All three blocks
(Largueau IV, DOA and WD 2-2008) are contained within the
same licence, two of which, DOA and WD 2-2008, are in the
prolific Doba Basin. Regalis holds beneficial, economic and
operational rights in respect of 72.5 per cent of the licence.
The Republic of Chad, Central Africa, has an emergent upstream
oil & gas industry with significant light crude potential
in the south of the country. Export from the south of the
country is possible through Exxon Mobil's joint venture pipeline
to Cameroon's Atlantic pumping station.
Regalis is well capitalised to build a strong exploration
footprint across Africa and to drive asset upside through
exploration, including 2D and 3D seismic data acquisition.
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